8.1

7.3

Sara Kiviat Berkenwald received a joint law degree and masters in business... more

Sara Kiviat Berkenwald received a joint law degree and masters in business administration from Seattle University School of Law and an LL.M. in Taxation from the University of Washington School of Law. Sara received her undergraduate degree in history from the University of Washington. Her practice focuses on estate planning, special needs trusts, elder law, and probate. Before joining Is...view profile

6.2

7.4

A trust is an arrangement whereby someone owns and manages money or property for another person's benefit. Like a guardianship, a trustee has decision-making authority over the trust property, but no court is involved in the trustee's action–the person who creates the trust defines the scope of the trustee's power. There are many different trust types, including probate trusts, income trusts, spendthrift trusts, and educational trusts. For example, a living trust allows you to manage your property while you are alive and to direct who will manage it if you become incapable of doing so. In essence, you choose your own “guardian” in advance and avoid having the court do it for you. A trust attorney reviews the many reasons for establishing a trust with you, and can ensure your trust will be legally valid.